Opened with a gap down and the Nasdaq fell more than 300 points! Memory stocks tumbled—Micron fell more than 4%, SanDisk and SK hynix fell more than 5%! Chinese concept stocks were broadly down, and gold broke below $4,400丨US stocks opened

            Reporter｜Du Bo????Editor｜Duan Lian????          
Reporter｜Du Bo
Edited by｜Duan Lian Du Hengfeng?Proofread by｜Liang Luyue
August 18, US stocks opened with a sharp drop. As of the time of writing, the Nasdaq was down more than 1%, the Dow Jones down 0.07%, and the S&P 500 index down 0.51%.
Tech stocks broadly fell. SpaceX and Meta dropped more than 3%, Nvidia fell nearly 2%, and Tesla, Amazon, and Google were down within 1%. Apple and Microsoft inched up slightly. Memory-related stocks plunged across the board: SanDisk and SK hynix fell more than 5%, while Micron and Western Digital fell more than 4%. Intel fell nearly 5%, and AMD fell more than 3%.
Most Chinese concept stocks declined. The Nasdaq China Golden Dragon Index fell 0.52%. Baidu fell more than 7%, iQiyi fell more than 4%, and XPeng fell more than 2%. NIO and Li Auto fell more than 1%. Alibaba and New Oriental rose.
Spot gold fell below $4,400, down about 0.5% during the day.
On August 18 local time, global long-term government bonds saw continued sell-offs. The yield on US 30-year Treasuries rose to as high as 5.327% at one point, the highest since 2007. Japan’s 30-year government bond yield rose to around 4.12%, and the 10-year yield briefly touched 2.945%, the highest since 1996. Germany’s 10-year government bond yield rose to about 3.25%, a new high since 2011. The Middle East situation and rising energy prices have stoked concerns about inflation, while bond supply pressure in major economies and expectations for monetary policy have pushed up yields at the long end.
(Disclaimer: The article’s content and data are for reference only and do not constitute investment advice. Investors act at their own risk.)
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